First Horizon Advisors Inc. Raises Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

First Horizon Advisors Inc. increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 33.3% during the fourth quarter, HoldingsChannel reports. The firm owned 576 shares of the biotechnology company’s stock after acquiring an additional 144 shares during the period. First Horizon Advisors Inc.’s holdings in BioMarin Pharmaceutical were worth $56,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of BMRN. Commonwealth Equity Services LLC lifted its position in shares of BioMarin Pharmaceutical by 8.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 7,413 shares of the biotechnology company’s stock valued at $656,000 after buying an additional 568 shares during the last quarter. Xponance Inc. lifted its holdings in BioMarin Pharmaceutical by 2.5% during the third quarter. Xponance Inc. now owns 9,169 shares of the biotechnology company’s stock valued at $811,000 after purchasing an additional 226 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in BioMarin Pharmaceutical during the third quarter worth about $495,000. Forsta AP Fonden increased its stake in shares of BioMarin Pharmaceutical by 1.9% in the third quarter. Forsta AP Fonden now owns 37,500 shares of the biotechnology company’s stock worth $3,318,000 after purchasing an additional 700 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of BioMarin Pharmaceutical by 20.9% in the third quarter. Mackenzie Financial Corp now owns 36,296 shares of the biotechnology company’s stock valued at $3,128,000 after purchasing an additional 6,280 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Scotiabank raised their price objective on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, April 25th. Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Robert W. Baird reduced their target price on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.50.

Insider Activity at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the transaction, the director now owns 474,994 shares in the company, valued at approximately $43,347,952.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the transaction, the director now directly owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the transaction, the insider now directly owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,079 shares of company stock valued at $9,220,236. Insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BMRN opened at $82.58 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $15.68 billion, a P/E ratio of 77.18, a PEG ratio of 1.30 and a beta of 0.34. The stock has a 50-day moving average price of $86.56 and a 200-day moving average price of $89.02. BioMarin Pharmaceutical Inc. has a 12-month low of $76.02 and a 12-month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. BioMarin Pharmaceutical’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 1.98 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.